Creative Planning increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,905 shares of the utilities provider’s stock after purchasing an additional 2,346 shares during the period. Creative Planning’s holdings in Hawaiian Electric Industries were worth $1,741,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in HE. Private Advisor Group LLC bought a new position in Hawaiian Electric Industries during the 2nd quarter valued at about $311,000. Arizona State Retirement System lifted its stake in Hawaiian Electric Industries by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 75,566 shares of the utilities provider’s stock valued at $2,592,000 after acquiring an additional 1,964 shares during the period. Sei Investments Co. lifted its stake in Hawaiian Electric Industries by 16.3% during the 2nd quarter. Sei Investments Co. now owns 130,583 shares of the utilities provider’s stock valued at $4,479,000 after acquiring an additional 18,296 shares during the period. Mutual of America Capital Management LLC lifted its stake in Hawaiian Electric Industries by 4.8% during the 2nd quarter. Mutual of America Capital Management LLC now owns 93,639 shares of the utilities provider’s stock valued at $3,212,000 after acquiring an additional 4,297 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Hawaiian Electric Industries during the 2nd quarter valued at about $2,202,000. Institutional investors own 51.59% of the company’s stock.
Shares of NYSE:HE opened at $37.30 on Thursday. Hawaiian Electric Industries, Inc. has a twelve month low of $31.72 and a twelve month high of $38.72. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $3.97 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 3.04 and a beta of 0.28.
Several research firms have issued reports on HE. Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Wells Fargo & Co upped their target price on shares of Hawaiian Electric Industries from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $34.00.
Hawaiian Electric Industries Profile
Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, sugarcane waste, municipal waste, and other bio fuels.
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